China March industrial profits up 10.7% on-year

Sunday, 27 Apr 2014 | 1:32 AM ETReuters

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Profits earned by China's industrial companies rose 10.7 percent in March to 513.2 billion yuan ($159.9 million) from a year earlier, faster than the 9.4 percent pace in the January-February period, the government said on Sunday.

During the first quarter, profits of industrial companies rose 10.1 percent, the National Bureau of Statistics said on its website. Industrial companies include mining firms, manufacturers and power generators.

Analysts see initial signs of stabilization in the Chinese economy due to the government's targeted measures to underpin growth, but believe more policy support may be needed as structural reforms put additional pressure on activity.